Altice Said to Seek Portugal Telecom Bid to Unravel Oi Merger
2014-10-06 16:50:15.109 GMT
By John Simpson
Oct. 6 (Bloomberg) -- Billionaire Patrick Drahi seeks to
acquire PT Portugal and plans to unravel co.’s merger with
Brazilian carrier Oi, person familiar tells Bloomberg’s Marie
Mawad and Christiana Sciaudone.
* Altice, Drahi’s cable holding company, aims for agreement on
Portuguese assets within weeks, person said
* Deal would need backing of Oi, which controls merged entity,
and to address how much in defaulted debt Portugal Telecom
will retain, person said
* Portugal Telecomhas market value of EU1.5b in Lisbon trading
* While Oi merger hasn’t completed, Portuguese carrier has
transferred its phone assets to Oi, retaining a minority
stake in enlarged carrier
* Rioforte Investments, subsidiary of Espirito Santo
International, in July failed to repay EU897m of short-term
debt to Portugal Telecom
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--With assistance from Anabela Reis in Lisbon.
To contact the reporter on this story:
John Simpson in Toronto at +1-416-203-5726 or
jsimpson12@bloomberg.net
To contact the editors responsible for this story:
Andrea Snyder at +1-202-624-1831 or
asnyder5@bloomberg.net
2014-10-06 16:50:15.109 GMT
By John Simpson
Oct. 6 (Bloomberg) -- Billionaire Patrick Drahi seeks to
acquire PT Portugal and plans to unravel co.’s merger with
Brazilian carrier Oi, person familiar tells Bloomberg’s Marie
Mawad and Christiana Sciaudone.
* Altice, Drahi’s cable holding company, aims for agreement on
Portuguese assets within weeks, person said
* Deal would need backing of Oi, which controls merged entity,
and to address how much in defaulted debt Portugal Telecom
will retain, person said
* Portugal Telecomhas market value of EU1.5b in Lisbon trading
* While Oi merger hasn’t completed, Portuguese carrier has
transferred its phone assets to Oi, retaining a minority
stake in enlarged carrier
* Rioforte Investments, subsidiary of Espirito Santo
International, in July failed to repay EU897m of short-term
debt to Portugal Telecom
Story Link:NSN ND16F66JTSE8<GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
--With assistance from Anabela Reis in Lisbon.
To contact the reporter on this story:
John Simpson in Toronto at +1-416-203-5726 or
jsimpson12@bloomberg.net
To contact the editors responsible for this story:
Andrea Snyder at +1-202-624-1831 or
asnyder5@bloomberg.net